Memphis's Nineteenth Century Club building to be auctioned

The historic Nineteenth Century Club building will be auctioned after getting no takers through usual real estate listings since summer 2011.

The auction may finally resolve a languishing issue: Will the Beaux Arts mansion — completed as a private home 103 years ago — be preserved or razed for some new development on the 1.2-acre lot?

At stake is the grandest of the few remaining historic homes on Union, which has changed over the decades to a commercial thoroughfare. Surrounding the regal building like Lilliputians are a Taco Bell, Papa John's and Regions Bank branch.

"There's a lack of urgency that comes along with the traditional method of selling," said auctioneer Jeff Morris, whose Morris Auction Group has posted the property on its website, morrisauctiongroup.com. "With an auction on a date certain … it forces people to act."

The auction will be Jan. 24 at the auction company, 2687 Mount Moriah Terrace. A time has not been set.

The 15,813-square-foot building at 1433 Union had been listed for $1.5 million through at least two real estate firms.

While the philanthropic and cultural women's organization will set an auction reserve price — an undisclosed minimum price — Morris said the club's intention "is to sell it on Jan. 24 at the highest and best bid."

A portion of the sale proceeds will go to the Children's Museum of Memphis.

It's been a tough sale. Some sections of Union have seen retail or restaurant chains do extraordinary projects to gain a presence on the avenue. But other spots are marred by vacant and tired-looking buildings.

"As strong as Union is, there are blocks stronger and more desirable than others," said Danny Buring, managing partner of The Shopping Center Group. "That may be a factor."

Another factor may be the reluctance of any buyer desiring just the land to battle preservationists, he said.

Who wants to be the one who tore down the last of Union's grandest homes?

The Nineteenth Century Club purchased the building 87 years ago, but felt forced to sell after Environmental Court prohibited the club from renting the space for such events as parties and weddings until it repaired the exterior. The organization no longer uses the building.

Total renovation inside and out was estimated in 2009 to cost $1.5 million to $2 million. That plan and cost estimate are available at morrisauctiongroup.com.

"Older homes take a special soul to even want to buy one," Dick Leike of Crye-Leike Reallty said a few months ago after taking down his "For Sale" sign. He previously had the listing.

While the four-columned, redbrick mansion is substantial, the lot alone is "probably worth a good deal of money," Leike said. The land is appraised for $626,400 and the building for $38,400 by the Shelby County Assessor's Office.

"It definitely needs some repairs to it, but it's not going to collapse on itself," he said.

Leike described the first floor as being in good condition with beautiful moldings and finishes.

Some exterior decay is obvious. White paint peels. Some wood is rotted. Some gutters droop.

On Tuesday morning, a blanket was draped over the railing of a side porch, where a man slept.

Morris said some bidders may want to repair the building for such commercial uses as a restaurant or offices. Others may want to buy it "just for the land under it," he said.

"It's time that somebody who really has the vision and money to put behind it to make that into something prestigious on Union Avenue."